ebike insurance

C

com4n6

Member
Sorry if this has been discussed, I searched and did not find. Does anyone have this? If so, can you please explain? Thank you!
 
Do you mean liability insurance? Is there such a thing for an e-bike? Or theft insurance? I'd be surprised if any insurance company would write either type of insurance as a standalone policy.

You probably have some level of liability and/or property coverage from your homeowners or renters policy, and the bike could be made a scheduled item on your policy at additional cost.

From a liability perspective, anyone with a modicum of accumulated wealth should have an umbrella policy, that would cover you in the event of any sort of accident you caused in any sort of vehicle. With regular motor vehicles, you would need to have each one on the umbrella policy, if you have more than a single vehicle. I doubt that they bother to schedule such a thing as an electric bicycle, since the risk to the insurance company would be pretty low.
 
I have velosurance. It’s pricey. To cover my ebike costs as much as $40,000 worth of renters insurance. It does give you a ride if you get stranded (AAA) will do this too, and $50,000 worth of liability insurance for a bike related accident. That will barely cover a trip to urgent care for a scrape these days, but I have no assets anyway.
According to others on the forum, Velosurance will send you a check very quickly with little hassle if your bike is stolen.
 
I asked my insurance company about this. This was their response: "Per the u/w, she stated that if there is a loss with the e-bike, it generally is not covered under the homeowners policy, but if there was a loss, an adjuster from claims would determine if we would cover it. I also spoke with another rep, who stated, per her manager, that is something that would be covered under personal property."

So obviously neither they nor I know what's covered...!
 
ottomark said:
I asked my insurance company about this. This was their response: "Per the u/w, she stated that if there is a loss with the e-bike, it generally is not covered under the homeowners policy, but if there was a loss, an adjuster from claims would determine if we would cover it. I also spoke with another rep, who stated, per her manager, that is something that would be covered under personal property."

So obviously neither they nor I know what's covered...!
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Insurance agents are generally very helpful up until the time when you need to make a claim; their business is selling policies, not servicing them :) They generally let the employees of the actual insurance company inform you that you are s*it out of luck. Then they commiserate with you about the mean insurance company whose policy they sold you . . . .
 
Toomanycats said:
I have velosurance. It’s pricey. To cover my ebike costs as much as $40,000 worth of renters insurance. It does give you a ride if you get stranded (AAA) will do this too, and $50,000 worth of liability insurance for a bike related accident. That will barely cover a trip to urgent care for a scrape these days, but I have no assets anyway.
According to others on the forum, Velosurance will send you a check very quickly with little hassle if your bike is stolen.
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Not that bad of a price to me. 2 less 750ml of Single Malt a year.
 
State Farm here. Just asked that question when I was in talking with the agent. Bike goes on the home owners policy, liability and loss. $1000 deductible on loss. They didn’t recommend turning it in for a $1600 Bike alone, but would be helpful to turn it in on a major loss. Liability is covered out right.
 
In expectation of picking up my new BH Atom next week, I called our insurance agent to see how to get it covered if it gets stolen. She said as it is basically a bicycle, not a licensed motorized vehicle, that it is covered by our homeowners insurance. She is going to doublecheck with everyone in her office to make sure, but if it gets stolen, it will be covered. Of course, there is a $1,000 deductible on anything we claim for on our homeowners insurance policy, so that would bite, but maybe I could see if we could get a special rider or policy for that gap.
 
ChezCheese:) said:
In expectation of picking up my new BH Atom next week, I called our insurance agent to see how to get it covered if it gets stolen. She said as it is basically a bicycle, not a licensed motorized vehicle, that it is covered by our homeowners insurance. She is going to doublecheck with everyone in her office to make sure, but if it gets stolen, it will be covered. Of course, there is a $1,000 deductible on anything we claim for on our homeowners insurance policy, so that would bite, but maybe I could see if we could get a special rider or policy for that gap.
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How about if it is damaged in a crash, collision, trail accident etc?
 
I also have State Farm. Mine is insured as a motorcycle, essentially, and am fully covered, including liability, collision, theft, and vandalism. I think my deductible is $500, though for vandalism and the like it is only $100 which will be nice if a battery gets stolen somehow or it gets messed up sitting at a bike rack somewhere or something. It isn't cheap at like $20/month, but the peace of mind is amaaaaazing. I never have to worry about leaving it somewhere since the most I'll ever be out is $500 (on a $3000 bike).
 
ChezCheese:) said:
I don't know. I should ask. I am mainly concerned with theft.
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If you are ok with the $25-30+ a month it will cost you, want the value of the bike covered without a $1000.00 deductible, and it’s available where you live, it sounds like velosurance might be your best bet.
 
Put that $25-$30 in a jar every month and “if” someone steals it you will most likely have enough money to pay the deductible or buy a new bike. Odds are good enough against some one steeling it you’ll end up with a bunch money to buy a new bike when yours wears out.
 
You can go online and get quick and easy quotes from Velosurance and Markel for exactly the coverage you want. I think theft is the basic coverage but they offer optional liability, collision, and medical coverage, etc. My homeowners policy had limited coverage for theft, and a $1000 deductible. On a $1500 bike I might as well self-insure for theft, but as litigious as everyone is nowadays the extra coverage is a comfort. Someone opening a car door as I pass a line of parked cars or colliding with a pedestrian or drunk scooter rider worries me more than theft. The theft coverage is good though.

Anyway, it's just about painless to get an online quote. They'll email you for a while afterwards, but that stops before too long.

For me, Velosurance and Markel quotes were almost identical. Velosurance is underwritten by Markel, so I went direct with Markel, but I don't know that that really matters.

TT
 
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